InvestorsHub Logo

Lionelthelunatic

04/29/22 7:32 AM

#275 RE: shotsky #274

Shotsky, you are correct in what you say. I have been in the oilfield over 40 years. I spent the last 9 years working in the Eagle Ford Shale. The week Biden took office oil companies started shutting down. He warned us about what he was going to do. On getting wells drilled, here in this field it takes about 1 year and 3 months to get the oil in the tanks ready to send to the refinery. It starts with making a lease with the land owner, surveys, permits, construction, trucking, rigging etc. I put the blame totally on the adminstration. How can you trust a president that is taking oil out of our stratigic reserves on the brink of world war 3 ( "to help the American people at the gas pump") and then send it to Europe. I would love to see where that money goes.
USOI-22,111 shares and holding.

dealerschool2006

04/29/22 8:25 AM

#276 RE: shotsky #274

Higher oil prices = higher profits and shareholder value...not hard to understand...

Many oil and gas executives say they have little interest in increasing oil production — even at crude's near-record prices, which make extraction very profitable for their companies.


https://www.cbsnews.com/news/oil-production-prices-us-companies-wont-increase-2022-dallas-fed-survey/

https://www.poynter.org/fact-checking/2022/biden-9000-unused-oil-drill-permits/